Average Time to Deliver Across Postal Network Steady at 2.5 Days

First Quarter Fiscal 2023 - Financial Results: *Net sales of $3.28 billion, down 6% compared to last year, inclusive of an estimated 1-point foreign exchange headwind and 2 percentage points of negative impact from the sale of Gap China. Net sales were in line with the company's expectations for a mid-single digit decline in the quarter. *Reported gross margin was 37.1%. Excluding $4 million in restructuring costs, adjusted gross margin of 37.2% increased 570 basis points versus last year. *Reported operating loss was $10 million; reported operating margin of negative 0.3%.

The American Catalog Mailers Association, whose membership heavily relies on a properly-functioning postal system, urges the U.S. Senate to quickly consider and confirm the President’s new nominees to be U.S. Postal Service Governors. America’s postal system currently has no board – thus, no proper oversight. The ACMA has been instrumental in getting this important agenda item to the top of the priority list for a busy White House. In addition to our aggressive lobbying in Washington, the ACMA wrote a memo suggesting criteria and provided several strong candidates. We applaud the White House for moving this forward and are thrilled that nominations have been made. Click Read More below for additional information.

As reported recently in the Bangor Daily News, John Halle (CEO of Cate Street Capital) has formally dismissed the libel lawsuit that Cate Street Capital and Halle had initiated against Verle Sutton almost two years ago. This claim of libel had resulted from an article in the May 2014 issue of The Reel Time Report, written by Sutton, in which Cate Street Capital and State of Maine officials were strongly criticized for actions they took that related to the Great Northern Paper mills in northern Maine. Industry Intelligence, the publisher of Reel Time, had also been named as a defendant in this lawsuit. Industry Intelligence and John Halle reached a settlement earlier in 2016. In response to John Halle choosing to end the lawsuit against Sutton, and the Industry Intelligence settlement, Verle Sutton has issued the following statement: I am grateful to family and friends who have been so supportive during the last two years as we fought through the groundless lawsuit that John Halle and Cate Street Capital initiated against me for authoring “The Maine Problem.” The legal costs incurred during the last two years have been substantial, and the time our family lost was unfortunate. However, our losses pale in comparison to the damage that has been inflicted on the East Millinocket and Millinocket communities and, in fact, on all of northern Maine. These communities and this region were misled by state officials and Cate Street about the viability of the restarted Great Northern Paper mills.